2008 – Page 8

President Leonel Fernandez says that the steep drop in international fuel prices will not affect the PetroCaribe agreement with Venezuela. On Friday, the price of Venezuelan oil had dropped to US$31/barrel. Fernandez said that although Venezuelan President Hugo Chavez had expressed concern over the fall in fuel prices, there was never a point at which …

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Tourism Minister Francisco Javier Garcia believes that tourism in the DR will emerge unscathed from the looming international financial crisis, as reported in Hoy. Garcia’s optimism is based on a 2.10% growth in tourism from January to November. Garcia added that tourism in the DR has already survived five crises, including the US real estate …

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Hacienda Minister Vicente Bengoa says there is not enough money in the budget to pay out the “14th” wage that Congress passed in November. The extra salary is intended to help government employees to equip their children for the new school year. Bengoa says the 14th wage should be postponed till 2010. Bengoa said the …

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Farmers in Constanza are publicly blaming Agriculture Minister Salvador Jimenez (Chio), saying he is responsible for their multi-million-peso losses. “The lack of planning that has prevailed in your administration has caused enormous and irreparable damage to the economy of the Valley of Constanza and the country,” they state in a paid advertisement in Listin Diario. …

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The Andean Promotion Corporation (CAF) has approved a US$75 million line of credit that will be used for the improvement of roads in the DR. The loan will be managed by the National Plan for the Investment in the Dominican Republic Transport Sector and will be executed by the Ministry of Hacienda. The CAF is …

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The Ministry of Interior and Police gave in to the owners of colmadones, the open-air corner bars in the DR. The grocery stores-turned bars now can sell alcoholic beverages after midnight beginning on 22 December until 1 January 2009. As part of an ordinance passed by the Ministry, colmados must adhere to certain security measures …

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Customs (DGA) director Miguel Cocco is denying that tariffs on imported powdered milk have been raised. Cocco explained that at one stage a ton of powdered milk, which costs RD$5,500, was subject to a 20% tariff, which was then administratively reduced to 8% when dairy costs skyrocketed on the international market. But now the DGA …

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The disappearance of a private plane with 11 passengers on board has opened a can of worms about the lack of controls on private flights at Dominican airports. Jose Tomas Perez, director of the Dominican Civil Aviation Institute (IDAC) said a commission would be studying the disappearance of a plane that took off from Santiago’s …

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Business owners in the Cibao region are warning of an increase in the circulation of fake dollars and pesos and are asking citizens to thoroughly check RD$200 and RD$2,000 bills. Listin Diario reports that the situation has got to the point where some businesses are no longer accepting RD$2,000 bills and when presented with those …

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The strain on the US economy is rearing its head as Dominicans return to the DR for the holiday season. Hoy reports that although Dominicans are returning for the holidays, arrivals are down compared to previous years. Las Americas International Airport (AILA), which is usually bursting at the seams with passengers being greeted by hordes …

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